Granite Construction acquires additional trenchless rehabilitation assets
Granite Construction announced that it has further strengthened its position in the water and wastewater market by acquiring certain assets of Lametti & Sons, a Minnesota-based company with expertise in cured-in-place pipe rehabilitation and trenchless renewal. Lametti is one of the original certified installers of the Inliner CIPP product. As part of this transaction, Granite acquired assets and equipment related to Lametti's CIPP business. "We are excited about the opportunities that this acquisition provides as we continue to build our capabilities and position ourselves as a national leader in the water and wastewater markets," said Granite President and Chief Executive Officer James H. Roberts. "This is another step in the execution of our strategic plan which includes strong organic growth through our core business lines, acquisitions in the water and wastewater markets, and additional growth and geographical diversification in our vertically integrated business." This acquisition will become the Minnesota Area office of the Granite Inliner Division, a wholly-owned subsidiary of Granite Construction Incorporated, which includes operations based in Orleans, Indiana as well as 17 offices and more than 800 employees in the U.S. and Canada.